Archive for September, 2013

Quite a short update today. As you may know and as I stated in my previous video, the FOMC did not decide to taper its QE program this month. Once the markets heard the news, the metals rallied like never before. This was due mostly to the non-tapering statement by the Fed, and also because there was a long over-exaggerated bearish candle where traders felt the FOMC would taper this month. That candle broke the support of original channel. Shortly thereafter, the hope for Gold to see $1400 soon diminished as just two days later, a Fed Governor stated that the FOMC may taper in October 2013. Again, rhetoric from the Fed created panic in the stock markets, in particular, the metals market. Ever since then, Gold consolidation has remained.

Gold Consolidation is Not the Best Time to Trade

It is not smart to trade and guess the direction of where Gold is headed as the gold consolidation could fire to the upside or to the downside. If the gold consolidation fires south, look for 1300, 1280’s & 1275 area to bring support. 1275/76 is a key level for Gold to hold after it’s consolidation, as this is the 61.8% level of the current bullish trend. As long as Gold stays above this level, Gold’s intermediate bull run stays in-tact. Also, we want to make sure the bounce, aka momentum, from support is quite high to the upside; This will give us confirmation that the fire from the gold consolidation, though it may initially be down, is still going to keep this bull trend alive. However, if gold pierces below the 1275 area, then it will most likely not reach 1400’s, and we need to look for Bearish entries as the bullish trend has been broken.

Obviously, if price shoots up from the gold consolidation, then it does make it quite likely that Gold could see 1400’s. Should it fire north or bounce hard from any of the above support levels, we need to look to see if it can take out the 1380’s & the 1400 level. Only if it can stay above 1400 would we then expect Gold to “kiss” the 200 Day Moving Average around mid 1400’s.

Again, there are a different set of rules and a different mindset for those acquiring physical gold for the future. But for trading purposes, let’s wait and see where the price fires from the current gold consolidation. It would be nice to see Gold keep it’s intermediate bullish trend.

In a move that was predicted back in August by Savage, it was officially announced that Michael Savage will take over the 3 PM est time slot from Sean Hannity. As Savage Takes Over the time slot, I’m hoping the new (more mainstream) audience will not change the show one bit.

Savage Takes Over

The Savage Nation provides thought-provoking information of both opinion and fact. He can talk about Spaghetti sauce, and somehow, end up associating it with Obama’s destroying of America. Or a nostalgic story from his childhood in NYC will lead into boat sailing in some way. Whatever the topic, it’s mentally appeasing to see to course of every show, and where it ultimately ends.

However, it wasn’t that long ago that Savage was off the radio completely. He had occupied the 6PM est time slot with TRN for years. But a contract dispute and lawsuit had soured that relationship, and a hiatus ensued last year. Michael Savage then signed with Cumulus which would place him in the 9PM est slot. Though that time was not the most desirable, it still gave him access to power house radio stations across the United States.

Well, bringing his usual game, The Savage Nation saw ratings spikes across the board. So in the wake of Sean Hannity’s contract woes with Cumulus, Michael Savage became the heir apparent of the 3PM est slot.

So as Savage Takes Over the 3PM time slot, he had this to say:

With this important time slot, as well as the iconic Cumulus stations coveted by everyone in radio, I hope to edutain the world. Politics will always be my mainstay, but there is so much more to talk about. Breaking news, science, religion, films, and books…..well they have always been my calling cards. With these new stations and new time, I break out a new deck.

Again, I hope to see the same old show in the new time slot. Don’t change one bit, Savage.

This week’s Thursday Thought comes while making a deposit at a bank branch. My teller, Rebecca, asked me “Are you ready for the weekend?” My response came in the form of a raised eyebrow and the unconvincing word, “yeah.” It probably sounded as if I began questioning myself in the middle of the one syllable word, which I was. The reason is because, to me, that question sounds a lot like “Are you in an unfulfilling job?” But I WAS ready for the weekend, just like I was ready for Wednesday, so the “yeah” came out. This Thursday Thought pertains to the conventional view towards work and anybody currently in an unfulfilling job.

Ready for the Weekend?

After my response, Rebecca was slightly, but visibly taken aback. I guess most other people give the opposite ‘TGIF!!’ response. But I just explained that the weekdays and the weekends all run together. In fact, personally, the only thing that distinguishes a certain day from any other, is that I try not to work during the Sabbath. Other than that, all things remain the same.

I could just as easily be out and about on a Monday night as on a Friday night. And I could make a trip to the beach on a Thursday just as well as a Saturday. I try to attend Mass daily, so Sunday isn’t even all that special as a ‘church day.’ Then conversely, I could just as easily pour concrete at 1am as well as 1pm. And I could be sleeping at 3am, just the same as 3pm. Examples go on, but the point is that my work schedule allows for this. Structure and discipline are employed in many areas of my life, but my work schedule has not been one of them thus far.

So does that spontaneous lifestyle leave some money on the table that I could be earning? Yeah, probably. Does it add stress not knowing exactly from where the next job is coming? Maybe. But then having the freedom to go wherever, whenever is worth more to me than $$. And having the ability to burn hours on my obsessive, money-pit of a website also has it’s worth.

I don’t mean to sound like someone who is on a constant high. I have ups and downs too. But I can honestly say that I’m not just ready for the weekend, but I’m ready for Monday, Tuesday, Wednesday, Thursday, and Friday with the same amount of pumped-upness. (look for that word in the next Webster Dictionary update)

Unfulfilling Job?

Readers of this site are by now familiar with the contrarian nature of it, but yet again, I challenge modern views towards work. I’m not writing this to knock the 9-5 ‘secure’ job, but my thought is about how it’s just NOT for everybody. Is the set weekend, ‘job security,’ pension, benefits, salary, etc. enough to live on, if you aren’t being fulfilled? To some people, yes. But to others, no.

I have a friend in a good position in a company listed in the Dow Jones 30. She could totally do the rat race and climb the corporate ladder to great heights…and do quite well, I’m sure. The problem is, she has another calling to be doing something else more enriching. I’m guessing most, if not all of her coworkers will call her crazy and immature for leaving such stability. But if it’s an unfulfilling job for HER, then who are THEY to say? Again, not knocking the rat racer, as some people ARE fulfilled there.

However, not everyone can do the cubicle indefinitely. One can even be content being temporarily broke, if it means they get to TRY to do what they are on this Earth to do. The 9-5 cubicle, or it’s equivalent unfulfilling job, will always be around waiting for you one way or another. But the best opportunity to try to accomplish your passion may not always be there. For example, marriage and children, as great as they may be, are also responsibilities that may make the journey more difficult…..though certainly not impossible.

So this Thursday Thought is aimed at the people who have that little nagging ‘something’s not right’ feeling. For the ones that lose sleep over ideas and visions. For the ones that go to their unfulfilling job with a grated stomach wishing they were someone and someplace else.

For some, the road to fulfillment is the most scary and uncertain of all. You might try your hand and fail. You might get ridiculed by family and friends. You might lose all your money. But you’ll certainly learn. Then, just maybe, you’ll end up finding your niche and true calling in life.

Tools

There are many resources that can aid in freeing you from an unfulfilling job. Here are a few books off the top of my head:

Remember, challenging the modern conventional idea of a job will not be easy. For an extreme example, it is highly unlikely that someone will give you a million bucks…or even ten bucks…. to throw paint on your first canvas. You might even experience years and years of ‘failures.’ If that is the case, just make sure you take knowledge away from each of those lessons….I mean, ‘failures.’ All and all, mentally prepare yourself for the knocks and trials, and it IS possible to shed your unfulfilling job, and find your true niche.

So there you have it. Don’t worry about vain things such as what people think of you. For sure, take advice from everyone who loves you. And don’t skirt your responsibilities to act on a whim. But also, contemplate just why it is you are here. If you have that other calling, don’t just ignore it. Really consider moving on from the unfulfilling job, even if society thinks you are crazy. In some way, we all are. So the first question to ask yourself, “Are you ready for the weekend?”

by Vinny – Will we see Gold 1500 & Silver 26?….Will we see another crash?….Or will we see all of the above?

Gold 1500?

In my previous videoand Bipolar Gold article, I gave many reasons why I had a bullish-bias towards Gold and saw it going to the $1400 region. Not too long after my update, Gold went into the $1400 levels so that was very nice to see. Under the comment section of that video, I stated two targets that I felt would be likely: $1404 & $1441. The first target was hit, however, the second has yet to be hit. When traders give more than one targets, it suggests that the first target is always more conservative than the latter. I got $1441 target by doing a “Fibonacci Extension” from one “wave” and projecting it to give me an approximate end target for a future second wave.

Though I do not specialize in Elliot Wave and have very little practice with it, I do know that the “Wave A” should be proportionate to “Wave C” in a A-B-C Corrective Pattern. Many Elliot Wave Theorists believe Gold is in a current Wave C correction, and the question is how high will it go? Many, including myself, feel $1441 is a good approximate target, however, we all know that markets are never rational and it’s never a guarantee that this target will be hit. As the weeks go by, I will be carefully eyeing the metals to see if the momentum is still present for this upward move to possibly take us to Gold 1500.

Unexpected Selling Momentum on September 12, 2013

Parts of this video, unfortunately, may not be of some use. Hours after uploading my video on 9/11/13, Gold broke a major uptrend channel with a very large bearish candle; Gold practically moved nearly twice as much it usually does in one day! This candle may change things here. Due to the harsh sell off on 9/12/13, and assuming we do not get any good bounces within the next couple of trading days, I am expecting levels of $1275 or $1298 areas to be tested. While momentum builds against Gold 1500, we look for it to have a shot at the mid $1400’s, as initially expected. For that to happen, and the continuation of the upward channel, Gold would need to stay above $1298. If Gold does not bounce off of the $1298 level, but breaks down through it, then I will be questioning any upwards momentum. Gold 1500 and even the mid $1400’s will be rather unlikely.

Again, If we can bounce strongly from the $1298, then there can be a possibility of Gold doing a final rally towards $1400 and maybe even my initial second target of $1441. If we bounce, I will be looking for another upward channel of some sort to play out. If anything is fishy or suspect during the second rally, I will once again question the likelihood of Gold going into the mid $1400’s. At that point, Gold 1500 would have to wait until the future.

The above goes same with Silver. If Silver does not make another strong upward trend, then I will question any possibility of it testing the 200 day moving average, let alone its recent highs as discussed in my update.

Long Term Bearish Targets

I presented various bearish targets on Gold and Silver for you to consider should the metals pierce their recent lows. As stated above, because targets are quite a mystery, traders often give numerous targets for consideration. Obviously, the closest target offers less risk and less profits, while targets farther out offer high risk and high profits (as there is no guarantee the farther target will be triggered). The targets are there for you to consider and decide if you want to purchase physical metal at those levels. Personally, I strongly believe that if those lows are taken out, the metals have a good chance to testing their 200MA (at least once) on the Monthly Chart. MA’s act like magnets, and I believe this will be the case here as well.

Just to be clear, targets do not necessarily mean bottoms. They are just merely areas to consider taking profits, reducing your position size and/or in this case, the contemplation of buying ‘value’. Many may disagree with those targets I presented, and that is fine. However, I feel I must be objective as possible should the lows be breached. If the lows are not breached, and we get a very powerful bounce, I would still have to see Gold go over $1533 & Silver above $26.10 to even consider that we are no longer in a bear-market.

In Conclusion

[editors’ note] Whether we see Gold 1500 or not, this data is for trading gold and silver in the short term. By analyzing the charts, we can also use this information to accumulate physical gold and silver at bargain entry prices. For those who pay attention, Gold and Silver will yet provide the opportunity of a lifetime. That said, if you have none, please do acquire some physical metal now. But if you already have some, we believe that ‘really long term’ opportunity has not presented itself just yet. In the meantime, we can still profit from gold and silver no matter which way the market is trending.[-T]

The saying goes “the trend is your friend until the very end.” The larger long term bearish trend for gold and silver is still intact. The short term bullish trend is currently in question. Since the original upward channel broke, it’s now time to sit back, figure out what Gold wants to do, and re-analyze from there. Please visit my channel for updates.

Obama World War Three Fundraiser!! OK, so maybe this week’s Friday Funny isn’t all THAT funny, in that paints a disturbingly REAL portrait of Obama supporters. But hey, living well is the best revenge. If we can find ways to laugh in the face of insane little people (and their supporters) who occupy big places, then let’s do it. This satire titled, “Help Kickstart World War Three!” highlights the sentiment of many Obama-drones (the human ones).

Here, the folks at TheSecondCityNetwork show a mock fundraising commercial to Help Kickstart World War Three. Why?……..Because Obama. Enjoy.

One other thought. These are actors, but they portray REAL people. Within several posts previous, I embedded a video from We Are Change, where Luke did a Q&A with Obama supporters. He posed questions about possible human rights violations Romney WOULD support. Then when everybody argued vehemently against them, Luke revealed that all of the violations were ALREADY committed by Obama. The response by the Obama supporters? They all made excuses for the violations!

It was then that a decision to strongly consider and act on life abroad became cemented for me. These kind of people have been seen throughout history. Without them, Hitler, Pol Pot, Mao, Stalin, Tojo, etc. would not be possible. These are the people who carry out the orders and don’t question their ‘leader.’ These are the people whom should make you consider relocation as well. Even if you only look to plant another flag somewhere as insurance.

For more on this, I recommend checking out Sovereignman.com, as they provide much info regarding international diversification.